National Telecommunications Inc.

Receivership

April 9, 2015 – By Order of the Ontario Superior Court of
Justice (the “Court”) dated April 9, 2015, Deloitte Restructuring Inc.
(“Deloitte”) was appointed as the receiver and manager (the “Receiver”) of all
of the assets, undertakings and properties of National Telecommunications Inc.
(“NTI” or the “Debtor”) acquired for, or used in relation to the business
carried on by the Debtor, including all proceeds thereof.

Bankruptcy

July 10, 2015 – By Order of the Court dated June 30, 2015, the Receiver was authorized to file an assignment in bankruptcy by and on behalf of the NTI in the name of NTI. On July 10, 2015, the Receiver assigned the Debtor into bankruptcy and Deloitte was duly appointed trustee of the bankrupt estate of NTI.

Should you have any questions or require further information, please contact Anna Koroneos at 416-775-8846 or Stefano Damiani at 416-874-4404.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see About Deloitte for a more detailed description of DTTL and its member firms.